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Financial News: Swiss Trade Surplus Grows To CHF 4.1 Bln

Swiss Trade Surplus Grows To CHF 4.1 Bln

06/20/2024 - 02:48:00 (RTTNews)

(RTTNews) - Switzerland's foreign trade surplus increased in May from a month earlier as imports fell faster than exports, data from the Federal Customs Administration showed on Thursday.

The trade surplus rose to CHF 4.1 billion in May from CHF 3.8 billion in April.

In real terms, exports declined 3.5 percent over the month, reversing a 7.0 percent drop in March. Imports fell 4.3 percent after rising 3.2 percent in the prior month.

Shipments of machines and electronics decreased 2.2 percent over the month, while those of jewelry items surged by 8.8 percent.

In nominal terms, both exports and imports slid by 1.6 percent and 3.8 percent, respectively.

According to the Federation of the Swiss Watch Industry, watch exports fell 2.2 percent year-on-year in May. Steel watches fell by 7.6 percent in terms of value, weighing down the general result, the FIH said.

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